Business

Web Desk — World Bank has warned that the remittance outlook for South Asia in 2023 is highly uncertain which means that the strong growth in remittances in the region in 2020 and 2021 can be sustained through 2023. According to the World Bank’s latest report, foreign remittances in Pakistan are projected to grow by eight percent in 2023, while …

Web Desk — Pak Suzuki Motor Company Ltd (PSMCL) on Tuesday again jacked up its rates by Rs40,000-129,000 with immediate effect. The Engineering Development Board (EDB), a strong arm of the Ministry of Industries and Production, warned the auto assemblers that the government is extremely concerned and has taken a very serious view about the frequent price hikes by the …

Web Desk — For pilot training, refresher courses, and air safety purposes, Pakistan International Airlines (PIA) has unveiled a modernized Airbus A320 simulator. The new Airbus A320 simulator, the first of its kind in the region, is being built for pilot training. According to PIA CEO Arshad Malik, the installation of simulators generally takes many years, but the PIA team …

Web Desk — As an ‘Eid gift’ to their buyers, the manufacturers of Honda bikes and cars have risen prices with effect from May 1. Honda Atlas Cars Ltd (HACL) has jacked up prices by Rs135,000-170,000 on various models from May 1, 2022. The new price of City MT 1.2L and CVT 1.2L is Rs 3.264mn and Rs 3.389mn. City …

Web Desk — Who are the richest people in the world, what is their net worth and how did they make their fortune? Here is a brief detail about the richest people in the world. Elon Musk – $219 billionAccording to Forbes Magazine, Elon Musk is the richest person in the world with an estimated fortune of $219 billion. Personal …

Web Desk — In order to contain massive sales tax evasion in major sectors, Chairman Federal Board of Revenue (FBR) Asim Ahmad has directed the Project Director, (Track & Trace System) to ensure speedy implementation of the track and trace system on tobacco, fertilizers, cement and petroleum products. Newly appointed FBR Chairman Asim Ahmad presided over a meeting to review …

Web Desk — Exceeding the target of Rs4.619tr by Rs239 billion, the Federal Board of Revenue (FBR) has raised a record Rs4.858 trillion in the first 10 months of the current fiscal year, provisional data compiled by the tax body showed on Saturday. Compared with the revenue collection of Rs3.778tr in the same period in 2020-21, a 28.6 percent growth …

Web Desk — Blaming the rising import cost of parts amid the massive depreciation of the Pakistani rupee, Pak Suzuki Motor Company (PSMC) has posted a net loss of Rs460.2 million for the first quarter ended March 31, 2022.  According to a statement sent to Pakistan Stock Exchange (PSX) on Tuesday, the company posted a net profit of Rs777.9 million in …

Web Desk — Tesla Inc., the US electric vehicle manufacturer, is welcome to set up shop in India, sell its cars there, and export them, but must not import vehicles from China, India’s transport minister said on Tuesday. Making in China and selling here is not a good idea, Nitin Gadkari said at a government conference. Elon Musk, Tesla’s billionaire …

Web Desk — On the occasion of World Earth Day, Jazz has committed to be a Net zero emitter of carbon by 2050. While the World Earth Day is being celebrated, it is essential for us to understand that responding to climate change is not an option anymore; in fact, there is a climate emergency which needs to be addressed, …